Financialization:Market Discipline or Capital Discipline?

19 Sep , 2020  

John Milios/ Dimitris P. Sotiropoulos

A crucial aspect of nearly all contemporary approaches to imperialism is the idea that the domination of neoliberalism and of the globalized financial sector of the economy produces a predatory version of capitalism, a capitalism that inherently tends towards crisis.

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Assetization (2)

23 Aug , 2020  

Wenn die Autoren auf frühere Ökonomen zu sprechen kommen, die sich mit den Konzepten der Assetization bzw. Kapitalisierung auseinandergesetzt haben, dann zuerst auf den von Bichler/Nitzan geschätzten Thorstein Veblen, für den das Asset ein monetäre Konzept ist, das mit Eigentum und Wert konnotiert ist, wobei letzterer den kapitalisierbaren Wert repräsentiert. ...

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Derivative and difference. On the stratagem of différance in Derrida

15 Jul , 2020  

In the case of derivatives, it is always also a matter of a differentiality that is shifted and shifted in time, whereby one can paraphrase this with Derrida’s stratagem of “différance”, which he presented in his writing Marginalities of Philosophy. (Derrida 1976: 6ff.) For Derrida, the stratagem of différance has ...

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COVID Life and the Asset Economy

28 Mai , 2020  

Lisa Adkins and Martijn Konings

Following the 2007/08 financial crisis the creation of a less unequal and fairer world appeared to be a major prospect. As is by now all too familiar, after the financial crisis, instead of becoming more progressive, societies turned out to be more unequal, with inequalities ...

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What Black-Scholes-Merton means to a speculative materialist

25 Mai , 2020  

Even those persons paralyzed by anxiety over their lack of knowledge of financial economics will intuitively grasp that uncertainty pervades an attempt to ascertain what will have been the value of an asset in the future, relative to its subsequent past value now in the present. Can this even be done? ...

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Value, Fictitious Capital and Finance. The Timeless of Karl Marx’s Capital

2 Apr , 2020  

Karl Marx is not a proponent of classical value theory as labour expended. Marx developed in Capital and his other mature economic writings a monetary theory of value and capital.2 He analysed value as an expression of relations exclusively characteristic of the capitalist mode of production. Value registers the rela-tionship ...

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The financial crisis in 2008 took place.

19 Feb , 2020  

When Jean Baudrillard announced that the year 2000 would not take place, one had to suspect evil. It is no exaggeration to say that the financial crisis of 2008 was the only event of world historical significance in the new millennium (as is well known, according to Baudrillard, the Iraq ...

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EconoFiction, PhiloFiction

25 Theses at time (of capital)

23 Jan , 2020  

1) Economic quantities can be changed in time precisely because money, as a so-called transcendental signifier of capital, has the quality of a pure quantity, whereby money is released from current acts of exchange and thus, as a monetary sign, accounts for the time accumulated in the commodity, which in ...

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Bichler/Nitzans “Capital of Power”

22 Jan , 2020  

At first glance, it seems that Deleuze’s concept of structure involves a complex form of the so-called creorder, a term that appears at the forefront of the methodological findings of the economists Bichler/Nitzan. (Cf. Bichler/Nitzan 2009) If the structure is updated in each of its moments in processes, then Bichler/Nitzan ...

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Elie Ayaches and Suhail Malik’s heterodox concepts of finance: the frenzy of contingency

13 Jan , 2020  

The heterodox positions of Elie Ayache and Suhail Malik on contemporary finance are often perceived in the haze of accelerationism, although not widely discussed. Let us first turn to the prosition of Suhail Malik. For us, the contingent price movements of the underlying assets/underlyings and the likewise contingent derivative pricing ...

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The football syndrome: speculative business

7 Jan , 2020  

1) Soccer, porn and pop are the cultural industries of today.

2) Clubs, players and coaches are now highly speculative financial investments. The Neymar deal with a redemption of 222 million raises world football to a new dimension. One rather does not want to imagine the number nor can one ...

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Remarks on “How Noise Matters to Finance”

4 Dez , 2019  

In his book How Noise Matters to Finance, which is well worth reading, Knouf points first and foremost to traditional ideas about the stock market, such as the control of the market by the famous invisible hand, the dreams of balance, transparency, explainable price movements and correct prices, All in ...

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